Harun Ozalp | Anadolu | Getty Images The free version of ChatGPT may provide inaccurate or incomplete responses — or no answer at all — to questions related to medications, which could potentially endanger patients who use OpenAI’s viral chatbot, a new study released Tuesday suggests. Pharmacists at Long Island University who posed 39 questions … Read more
A person walks by a CVS pharmacy store in Manhattan, New York, U.S., November 15, 2021. Andrew Kelly | Reuters CVS Health on Tuesday said it will revamp how it prices prescription drugs and scrap a complex model that typically sets how much pharmacies get reimbursed and what patients pay for those medications. The new … Read more
AbbVie on Wednesday said it will acquire neuroscience drugmaker Cerevel Therapeutics for roughly $8.7 billion. Under the terms of the deal, AbbVie will pay $45 per share for Cerevel. AbbVie said it expects to complete the acquisition in the middle of 2024. Shares of Cerevel jumped 16% after the close Wednesday to nearly $43 per … Read more
President Joe Biden speaks about protecting Social Security, Medicare, and lowering prescription drug costs, during a visit to OB Johnson Park and Community Center, in Hallandale Beach, Florida, on Nov. 1, 2022. Kevin Lamarque | Reuters The Biden administration on Thursday opened the door to seizing the patents of certain costly medications from drugmakers in … Read more
Darren Woods, chairman and chief executive officer of Exxon Mobil Corp., Brendan McDermid | Reuters Exxon Mobil said Wednesday its expects earnings to more than double through 2027 relative to 2019 as the energy giant moves forward with a slew of cost-cutting measures. Exxon said it’s on track to grow its earnings and cash flow … Read more
Gas prices at a Shell gas station in Washington, DC, US, on Tuesday, Nov. 28, 2023. Al Drago | Bloomberg | Getty Images U.S. crude declined 4% on Wednesday, closing at the lowest level since late June with retail gasoline prices hitting the lowest point since January just ahead of the holiday shopping and travel … Read more
Eli Lilly’s drug tirzepatide was approved for weight loss by the FDA. Courtesy of Eli Lilly Patients who took Eli Lilly‘s weight loss drug Zepbound regained around half the weight they shed after stopping the newly approved treatment for a year, according to data released Monday. The data, which represents the full results from an … Read more
Occidental Petroleum on Monday agreed to buy CrownRock, a major privately held energy producer that operates in the Permian Basin, for $12 billion. The deal is latest in a spate of consolidation in the U.S .energy sector, particularly in the Permian, the largest oil-producing region in the U.S. The transaction is expected to close in … Read more
Sopa Images | Lightrocket | Getty Images Shares of Cigna jumped Monday following reports that the health-care giant has scrapped its plans to buy rival Humana due to disagreements on price, putting an early end to what would have been one of the largest deals of the decade. Cigna late Sunday also announced plans to … Read more
Soumyabrata Roy | Nurphoto | Getty Images Drugmakers are closing out a year when they achieved several historic firsts that will shape the pharmaceutical industry in 2024 and beyond. The weight loss drug market transformed into the pharmaceutical industry’s newest gold rush this year, as demand for costly but highly effective treatments from Novo Nordisk … Read more
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